Santander building 5,000 new homes
 

Reckless, or thinking ahead? A third have already been sold off-plan according to the article. :unsure: At least it'll be good news for construction workers

http://www.elconfidencial.com/empres...adrillo_47876/

Re: Santander building 5,000 new homes
 

That’s funny. I read yesterday that Spain will soon start to demolish unsold and half-finished properties because there are no buyers. This is also good news for construction workers! 5000 new homes and a third are already sold off-plan? I’ll believe it when I see it.

Re: Santander building 5,000 new homes
 

There is a good business model there.

Demolish existing homes and build new ones. Plenty of construction and hangers on work there.:thumbsup:

Re: Santander building 5,000 new homes
 

Why oh why can't they use their brains and try and get the existing housing stock back into circulation.

I really can not see the point in building new property when so much lies vacant!!!!!!!!!!!!!!!!!

Re: Santander building 5,000 new homes
 

But so much of the new stuff that was never sold was just built in the wrong place, basically - a long way from what few job opportunities may be around and with no amenities. I really don't see much alternative but to demolish those.

It does seem a very unlikely time to be embarking on new builds on a large scale, but at least they claim to have identified areas where there is demand, this time around.

Re: Santander building 5,000 new homes
 

300,000 properties are said to be due to demolition or potentially demolishable.
recrete spanish jobs by destroying British owned properties ? mmmhh...
(of those 300,000, how many were sold to British citizens ?)

Re: Santander building 5,000 new homes
 

Don't confuse two completely separate issues.

The properties currently held by the "bad bank" which are talked of in recent articles as being possibly subject to demolition are the ones who were never sold to anybody.

The others, mainly in the South, are the ones currently in legal "limbo", of which a handful have been demolished and only those built on land with protected status may ever be knocked down. A huge problem still remains, however, for the owners of the remainder built on non urbanised land, as they are currently able to live in them but they can't be sold.

Re: Santander building 5,000 new homes
 

If true, difficult to comprehend.

Pretty much a continuation of the build first and think later policy that has left so many ill conceived developments deep in debt and also reduces the chances of some sort of return on housing projects already completed even further.

Re: Santander building 5,000 new homes
 

I know Lynn, and agree.
i find that article posted in the "demolition" thread though, kinda misleading.
but your post is crystal clear and to the point

speaking of houses, how about Detroit....
http://www.boingboing.net/filesroot/Picture%2011.jpg
compared, it does not look "that" bad in Spain....
you can get one in Detroit for $1 (yes one buck) but the property tax of course remains establised at the old old value of the house.. nasty.
and get a shot gun and bullet proof car to live there...

Re: Santander building 5,000 new homes
 

Now someone, in a country filled with unsold new properties, has identified new areas where there is demand. Are there no new unsold properties in Madrid, Barcelona or Valencia? Maybe Santander announces things like this to raise their share price for a couple of days.

Re: Santander building 5,000 new homes
 

what is the reference for that Lynn ??

I know a number of properties (some I have even considered buying :eek: )
built on non-urbanised land that are actively being marketed and sold - without any form of caveat emptor
most will be with "all necessary documentation", one agent in Almeria advertises he only handles "legal" properties and requires documentary proof before taking them on, but he is still handling some that are built on non-urbanised land and are outside the Ley de Suelo
:frown:

Re: Santander building 5,000 new homes
 

You can always sell the right property in the right location(s).
Unfortunately Spain seems to have an enormous amount of the wrong property built in the wrong location(s).

Re: Santander building 5,000 new homes
 

Whether houses were built in the right, or wrong place isn't always as simple as it sounds. I know of an example on my doorstep.

Guardamar is an old established Spanish seaside town just off the N332 on the way to Alicante airport from the south of the Alicante province. If you're driving past you can't fail to see a large housing development built on the mountainside to your left.

It's an ugly eyesore to most people, but when I saw the cranes starting to swing again recently I went to have a closer look. The completed houses appear to have been well built and we went to view a couple of them as prospective buyers.

They're built on a steep mountainside and all have incredible views of the sea below and if you manage to negotiate the busy dual carriageway you come to a beach at least five miles long in either direction. There are sand dunes to the south where you can sunbathe without a stitch on, and miles of bars and restaurants line the beach to the north.

The town is the only one to the south of Alicante where some of the locals and authorities still speak Valenciano, you seldom hear it anywhere else.

It has to be a perfect location for expats who want expat Spain and don't worry about the damage caused to the country by their desires.

Re: Santander building 5,000 new homes
 

Oh yes, silly me, I should have said "can't be sold unless they manage to unload them on to the next poor unsuspecting sap".:(

Re: Santander building 5,000 new homes
 

Spot on. It seems many people look at headlines about there being a "million empty flats in Spain" and assume the market is dead. But many of those flats are uninhabitable, they are as good as demolished anyway. However in areas where there is a demand and an undersupply of property it can make sense to build. Near my work in Madrid there's a new urbanisation that has already sold out, all 220 flats, before a brick has been laid - good quality flats in a desirable area, and correctly priced.